Global Automotive Chromium Material Market by Type (Decorative Plating Chromium, Functional Plating Chromium), By Application (Passenger Vehicles, Commercial Vehicles) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global automotive chromium material market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The market growth can be attributed to the increasing demand for passenger vehicles and commercial vehicles across the globe. On the basis of type, decorative plating chromium segment is expected to account for a major share of the global automotive chromium material market during 2018-2030. This can be attributed to its growing use in chrome plating applications for enhancing the aesthetics of passenger cars and commercial vehicles.



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Product Definition:

Chromium is a chemical element with symbol Cr and atomic number 24. It is the first element in Group 6. Chromium is a lustrous, hard, silvery-white metal that takes a high polish and has a relatively high melting point.

Decorative Plating Chromium:

Chromium (III) oxide is a compound, which occurs in nature as the mineral chromite. It is corrosion-resistant and has high thermal stability. The major applications of chromium are in the production of stainless steel, electroplating solutions, and decorative plating solutions for automotive parts manufacturing. Stainless steel and electroplated parts are used in various sectors such as building & construction equipment industry; marine; railways; aircraft components; food processing equipment etc.

Functional Plating Chromium:

Functional plating is a process of plating the metal parts with chromium to give it an additional function other than its regular one. It can be used in various applications such as air-conditioning systems, automobile engines, household appliances and medical devices. The automotive industry has witnessed significant growth over the past few years on account of increasing demand for passenger cars from developing economies such as China and India.

Application Insights:

The commercial vehicles application segment led the global automotive chromium material market in 2017. This can be attributed to increasing demand for trucks and buses from various end-use markets, such as construction, mining and agriculture. In addition, favorable government policies promoting the use of heavy vehicles are expected to drive product demand over the forecast period.

Passenger vehicle applications include cars, light commercial vehicles (LCVs), and mini buses among others. The segment is anticipated to witness significant growth on account of rising disposable income among consumers in developing countries including India and China among others. In addition, growing sales of passenger cars by Hyundai Motor Co., Ltd., Kia Motors Corporation; Ssangyong Motor Company Limited; Nissan Motors Ltd.; Mitsubishi Electric Automotive Systems Inc.; Infiniti luxury car brand; Volkswagen AG; Ford Motor Company dba Lincoln automobiles & Mazda automobiles are expected to propel industry expansion over the forecast period  (2017 To 2030).

Regional Analysis:

Asia Pacific accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Malaysia. These countries are witnessing strong economic growth owing to increasing industrialization and rising disposable income of consumers. This trend is projected to continue over the coming years which will have a positive impact on industry growth in Asia Pacific chromium material market.

Europe was estimated at USD X million in 2017.

Growth Factors:

Increasing demand for lightweight vehicles: The automotive industry is witnessing a shift towards the development of lightweight vehicles in order to improve fuel efficiency. This is resulting in an increased demand for chromium materials, which are used in the manufacturing of light-weight components such as bumpers and door handles.
Growing popularity of electric vehicles: The popularity of electric vehicles is increasing rapidly due to their low emissions and environmental friendliness. This is resulting in an increase in the demand for chromium materials, as they are extensively used in the manufacture of electric vehicle components such as batteries and motors.
Rising disposable income levels: A rise in disposable income levels has led to an increase in consumer spending on luxury items such as cars. This is driving the growth of the automotive chromium material market, as automakers are increasingly using chrome-plated parts and accessories on their cars to enhance their appearance and appeal to consumers.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Chromium Material Market Research Report
By Type
Decorative Plating Chromium, Functional Plating Chromium
By Application
Passenger Vehicles, Commercial Vehicles
By Companies
Atotech, Kakihara Industries, MVC Holdings, Platform Specialty Products, SARREL, Atotech
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
205
Number of Tables & Figures
144
Customization Available
Yes, the report can be customized as per your need.

Global Automotive Chromium Material Market Report Segments:
The global Automotive Chromium Material market is segmented on the basis of:
Types
Decorative Plating Chromium, Functional Plating Chromium
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Vehicles, Commercial Vehicles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Atotech
Kakihara Industries
MVC Holdings
Platform Specialty Products
SARREL
Atotech



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Highlights of The Automotive Chromium Material Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Decorative Plating Chromium
Functional Plating Chromium
By Application:
Passenger Vehicles
Commercial Vehicles
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Automotive Chromium Material Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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